Latest news with #Lau
New Straits Times
44 minutes ago
- New Straits Times
Teen among three charged over viral group clash in front of surau
MUAR: Three men, including a teenager, claimed trial in separate courts here today to multiple charges linked to a violent clash between two groups that went viral last month. The accused Zeff Tan Kai Xuan, 19; a 17-year-old; and, Lau Kian Liang, 32, were charged separately with causing injuries, vandalism and criminal assault using weapons, including a machete and rattan cane. In the Sessions Court, Tan and the teenager were jointly charged with voluntarily causing hurt using a rattan cane on a 32-year-old man in front of a surau in Jalan Sakeh at 12.45am on June 9. They were charged under Section 326 of the Penal Code, which carries sentences of up to 20 years' jail, a fine or whipping upon conviction. Judge Sayani Mohd Nor allowed bail at RM7,000 each and fixed Aug 27 for document submission. Deputy public prosecutor Diyana Najihah Muhamed Fauzi prosecuted, while Low Song Kuan represented the accused. In a separate magistrate's court, Tan and the teenager were charged with committing mischief by smashing the windscreen of the same victim's car, under Section 427 of the Penal Code. However, magistrate Suzana Mokhtar postponed the plea to Aug 27 pending the presence of a Mandarin interpreter, as the teenager did not understand the charge read in Bahasa Malaysia. Bail was set at RM1,500 and RM2,000 for Tan and the teenager, respectively. Meanwhile, Lau was separately charged in the same court under Section 324 for causing hurt to a 41-year-old man with a machete at the same location, date and time. The court fixed Sept 3 for case mention, pending legal counsel appointment and document exchange. Lau was granted RM5,000 bail with one surety. Prosecution was led by deputy public prosecutors Yasmin Mohd Piah and Nur Ameerah Allaudeen, while Nor Hafizah Abdullah of the National Legal Aid Foundation represented Lau.
CNBC
3 hours ago
- Business
- CNBC
China's $167 billion Tibetan mega-dam is set to boost these hydro-equipment and materials' stocks
China has kicked off construction on the world's largest hydropower dam, and analysts expect the colossal undertaking to be a huge boost for hydro-equipment and materials suppliers. Chinese Premier Li Qiang launched the construction of the mega-dam, located on the eastern rim of the Tibetan plateau, that is expected to produce 300 billion kilowatt-hours of electricity annually — three times the size of the Three Gorges Dam — the world's largest single source of green power. That capacity would be equal to 21% of China's entire hydropower generation last year and around 2% of the country's total power generation, according to Pierre Lau, head of Asia-Pacific utilities research at Citi. Lau named Dongfang Electric, a leading hydropower equipment manufacturer in China, as a major beneficiary of the surge in new orders from the dam's construction. With total investment for the Yarlung Zangbo hydropower project estimated at 1.2 trillion yuan ($167.8 billion) — around five times that of the Three Gorges Project — total bids for power equipment could hit as much as 120 billion yuan, Lau said. Dongfang, which enjoyed a 45% share in the conventional hydropower market, could rake in as much as 54 billion yuan from the new project, according to Lau. That would equate to 77% of the company's entire revenue in 2024, he said, although the revenue recognition may start at least five years later. Dongfang Electric saw its shares listed in Shanghai jump 10% — hitting their upper limit — on the first two trading days this week. Its shares in Hong Kong soared over 65% on Monday after the dam's ground-breaking on Saturday — shares traded 4.4% lower at 22.9 Hong Kong dollars ($2.9) Wednesday after sliding 2.8% Tuesday. The company is also better-positioned thanks to its hydropower unit production and research base in the city of Linzhi in Tibet, allowing it to develop customized equipment for the high-drop environment of the Yarlung Zangbo river, Lau said. Albert Miao, head of China energy transition and commodities research at Macquarie Capital upgraded the target price for Dongfang Electric's H-shares by 27% to HK$14.10, and A-shares by 17% to 25.50 yuan, with "outperform" ratings, citing "stronger than expected thermal power approvals and build-ups into 2030." Other top names for investors to watch include grid equipment makers Sieyuan Electric, Henan Pinggao Electric and XJ Electric, according to Lau, as the project will likely prompt a surge in demand for ultra-high voltage transmission lines and switchgears. Surging demand for cement, explosives Besides the hydropower infrastructure and equipment suppliers, analysts suggest construction of the colossal project would also benefit companies involved in production of cement and civil explosive products. Equity brokerage firm CGS International expects cement supplier Xizang Tianlu to be a major beneficiary, as the project is estimated to use more than 40 million cubic meters of concrete, translating into over 16 million tons of cement, or 1 million ton annually. "Tianlu, with all its capacity in Tibet, stands to benefit most," Macquarie's Miao said, while other players derived only a small share of revenue from Tibet. CGS International also pointed to Huaxin Cement and Anhui Conch Cement , both listed in Hong Kong as well as Shanghai, as potential winners as they could help supplement supply if Tibet's cement production falls short. Gaozheng Explosives, which has garnered around 90% of share in Tibet's civil explosives market, could reap a majority of new orders for the dam, Miao said, as it may be "unfeasible" for players outside the region to transport explosives due to strict regulation and high costs. In a filing on the Shenzhen stock exchange Tuesday, Zhejiang Jindun Fans , a ventilation system equipment supplier, warned of "abnormal fluctuation" in the trading of its stocks. While construction of the hydropower dam had kicked off, respective bidding process had not started, the company said, cautioning investors to invest "rationally." The stock soared 11% on Monday, followed by a 20% surge on Tuesday to close at 16.08 yuan ($2.24). The rally in related stocks this week was likely driven by increased visibility into the mega-dam project, according to Kai Wang, Asia equity market strategist at Morningstar. "Much of the loans and planning had already been approved back in December, but it wasn't until this past week that we saw the full scale — how big it would be, how much cement it would require," Wang added. He also highlighted Anhui Conch Cement as a preferred pick following the launch of the mega-dam, noting the stock has long been among the firm's top recommendations. The project could renew investors' interest in the name, Wang said, especially as it stands to benefit from Beijing's recent "anti-involution" policies targeting aggressive price undercutting. He maintained the price target for the Hong Kong-listed stock at HK$26. The stock last traded at HK$24.1 Wednesday. It might take up to 10 years for the dam project to be completed in phases, according to a team of economists at Nomura, who predicted the boost to the economic growth to be "most visible" in the first couple of years, leading to a gain of 0.1 percentage point in GDP growth.
Barnama
4 hours ago
- Business
- Barnama
AM Best to Sponsor and Participate at Vietnam Insurance Summit
SINGAPORE, July 23 (Bernama) -- AM Best will participate and be a sponsor at the Vietnam Insurance Summit, to be held 1 August 2025 in Quy Nhon, Vietnam. AM Best Senior Financial Analyst Ken Lau will discuss the credit rating agency's 2025 outlook on Vietnam's non-life insurance segment. Lau, who joined AM Best in 2020, is responsible for the credit ratings of insurance and reinsurance companies in the Asia Pacific region and is particularly knowledgeable with Vietnam's insurance market. The presentation, which will include topics such as insurance demand, regulatory refinements and market competition, is scheduled for 2:15 p.m. ICT.
Business Wire
7 hours ago
- Business
- Business Wire
AM Best to Sponsor and Participate at Vietnam Insurance Summit
SINGAPORE--(BUSINESS WIRE)-- AM Best will participate and be a sponsor at the Vietnam Insurance Summit, to be held 1 August 2025 in Quy Nhon, Vietnam. AM Best Senior Financial Analyst Ken Lau will discuss the credit rating agency's 2025 outlook on Vietnam's non-life insurance segment. Lau, who joined AM Best in 2020, is responsible for the credit ratings of insurance and reinsurance companies in the Asia Pacific region and is particularly knowledgeable with Vietnam's insurance market. The presentation, which will include topics such as insurance demand, regulatory refinements and market competition, is scheduled for 2:15 p.m. ICT. Additionally, Rob Curtis, managing director and chief executive officer, Asia Pacific, and Johnathan Wong, market development analyst, Asia Pacific, will be in attendance and available for meetings. To arrange a meeting with either Curtis or Wong to learn more about AM Best, its role in the insurance industry and the resources it offers to insurance professionals, including Best's Credit Ratings, please email or Under the theme 'Insurance Development Strategy in the AI Revolution,' the summit will focus on artificial intelligence (AI) applications, data-sharing systems, digital ecosystem development and customer experience optimization through a plenary session and two in-depth conference tracks. AM Best is a diamond sponsor of the event, which will take place at the Hotel Anya Premier. To learn more about the summit, visit here. Visitors to the AM Best booth can learn about the rating agency's Best's Credit Ratings, insurance data and analysis resources and financial data products and Best's Performance Assessment for Delegated Underwriting Authority Enterprises (DUAEs).
Borneo Post
3 days ago
- General
- Borneo Post
Healthy church must stand on evangelism, discipleship, says church leader
Lau (front, seventh left) joins the participants in a group photo, taken after the opening ceremony. SIBU (July 20): A healthy church must grow on two pillars, namely evangelism and discipleship, said Methodist Church Sarawak Chinese Annual Conference (SCAC) president Reverend Lau Hui Ming. When speaking at the opening ceremony of the 11th Youth Leadership Conference of the World Federation of Chinese Methodist Churches here on Friday night, he reminded the young participants that discipleship was not solely about attending church events or learning doctrines but also about walking closely with others on their journey to become more like Jesus Christ. 'We often hear about the importance of preaching the Gospel, but the Bible also calls us to discipleship and not the easy kind – it is disciplined, intentional and requires sacrifice,' he said. Lau said only a spiritually mature community shaped by love, sacrifice and a deep relationship with God could build a strong and thriving church. He thus encouraged the young people to reflect deeply on what it meant to be part of a healthy church over the course of the conference. 'Jesus said if anyone wanted to follow Him, they must deny themselves and take up their cross daily – not when it's convenient, not only during big events, but every single day no matter how you feel.' He said that many often mistook discipleship as just attending Bible studies or church programmes. 'Discipleship is more than knowledge, it's about people. It's about relationships. 'You have to know someone to walk alongside them in their faith. 'That's where true discipleship begins. 'There are four Gospels in the Bible: Matthew, Mark, Luke and John. 'But many of your non-believing friends, neighbours, and relatives may never read those. Instead, they read you. 'You are the 'Fifth Gospel'. How you live your life, how you know Jesus, how you treat others – that is the Gospel people see every day. If people can see our lives and be inspired to glorify God, then we become a bridge that leads others to Christ.'
